2. -- The economic calendar in the U.S. on Tuesday includes earnings reports from 346 companies, Marriott, Coach, Merck and Twitter among them. An update from the Case-Shiller Home Price Index will arrive today. Investors are preparing for this week's Federal Reserve policy announcement and second-quarter GDP figures on Wednesday and July government jobs report on Friday.

3. -- U.S. stocks on Monday were mixed, on news of Dollar Tree buying out Family Dollar for $8.5 billion, and rumors that U.S.-based Hospira was in talks to buy out French yogurt-maker Danone's medical and nutritional business.

The Dow Jones Industrial Average closed up 0.13% to 16,982.59. The S&P 500 rose 0.03% to 1,978.91. The Nasdaq sank 0.1% to 4,444.91.

Jamie Dimon of JPMorgan Chase defended the practice, which the New York Times said will reap nearly $1 billion in fees for banks involved in the transactions. "You want the choice to be able to go to Walmart to get the lowest prices," Dimon said in a conference call with reporters. "Companies should be able to make that choice as well."

5. -- U.K. oil company BP warned that more oil sanctions in Russia could affect the company's bottom line. BP is the foreign oil company with the largest investment in Russia, and it holds a 20% share of OAO Rosneft, a Russian oil company.

BP reported a rise in second-quarter profit of 34%, with earnings of $3.6 billion -- up from $2.7 billion a year ago. The earnings beat estimates. BP did warn, though, that its production will likely be less in the third quarter due to maintenance.

6. -- The European Union will impose $50 billion in fines on Russia for its takeover of oil company Yukos, which a court in the Hague ruled to be illegal on Monday. However, the fine may be difficult to collect.